Dynatrace (NYSE:DT) Price Target Raised to $67.00 at Scotiabank

Dynatrace (NYSE:DT) had its price target hoisted by research analysts at Scotiabank from $62.00 to $67.00 in a report released on Friday,Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 15.23% from the company’s current price.

A number of other research analysts also recently commented on DT. Needham & Company LLC reissued a “hold” rating on shares of Dynatrace in a report on Friday. UBS Group started coverage on Dynatrace in a research note on Wednesday, November 27th. They set a “neutral” rating and a $58.00 target price for the company. BNP Paribas assumed coverage on shares of Dynatrace in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $52.00 price target for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $65.00 price target on shares of Dynatrace in a report on Wednesday. Finally, Guggenheim reissued a “neutral” rating on shares of Dynatrace in a report on Wednesday, January 22nd. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Dynatrace presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.96.

Dynatrace Price Performance

Dynatrace stock opened at $58.15 on Friday. The firm’s fifty day moving average price is $54.75 and its 200 day moving average price is $51.92. The company has a market capitalization of $17.36 billion, a price-to-earnings ratio of 105.67, a price-to-earnings-growth ratio of 8.34 and a beta of 1.02. Dynatrace has a 12-month low of $39.42 and a 12-month high of $61.41.

Insider Activity

In other news, EVP Bernd Greifeneder sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $57.83, for a total value of $2,891,500.00. Following the sale, the executive vice president now directly owns 1,007,038 shares in the company, valued at approximately $58,237,007.54. This represents a 4.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DT. Principal Securities Inc. increased its holdings in shares of Dynatrace by 11.5% during the fourth quarter. Principal Securities Inc. now owns 15,384 shares of the company’s stock worth $836,000 after buying an additional 1,590 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its position in Dynatrace by 2.5% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 9,202 shares of the company’s stock worth $500,000 after acquiring an additional 222 shares during the last quarter. Rhumbline Advisers increased its holdings in Dynatrace by 1.2% during the 4th quarter. Rhumbline Advisers now owns 878,538 shares of the company’s stock valued at $47,748,000 after purchasing an additional 10,017 shares in the last quarter. New Mexico Educational Retirement Board raised its position in Dynatrace by 25.5% in the 4th quarter. New Mexico Educational Retirement Board now owns 60,870 shares of the company’s stock valued at $3,308,000 after purchasing an additional 12,370 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in Dynatrace by 2.8% in the fourth quarter. Vontobel Holding Ltd. now owns 13,903 shares of the company’s stock worth $756,000 after purchasing an additional 378 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

About Dynatrace

Dynatrace, Inc provides a security platform for multicloud environments in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates Dynatrace, a security platform, which provides application and microservices monitoring, runtime application security, infrastructure monitoring, log management and analytics, digital experience monitoring, digital business analytics, and cloud automation.